For personal use only
Fat Prophets Global Property Fund
ARSN: 619 970 786
Interim Report for the half-year ended 31 December 2021
Results for Announcement to the Market
Appendix 4D
31 December 2021
6 months ended | 6 months ended | |||
31 December 2021 | 31 December 2020 | |||
% change | $ | $ | ||
Results | ||||
Investment income | Down 11% | 2,405,998 | 2,697,065 | |
Change in net assets attributable to unit | ||||
holders (excluding capital returns) | Down 13% | 2,092,239 | 2,409,006 | |
Profit attributable to unit holders | Down 13% | 2,092,239 | 2,409,006 | |
Commentary on Results | ||||
Discussion and analysis of the Trust's results is contained in the Interim Report. | ||||
The Trust proposes to pay an interim distribution for the period | ||||
Interim distribution payable ($'000) | 683 | 319 | ||
Interim distribution payable (cents per unit) | 3.00 | 1.40 | ||
Basic and diluted earnings (cents per unit) | 9.19 | 10.58 | ||
31 December 2021 | 31 December 2020 | |||
Net Tangible Assets | ||||
Total net tangible assets attributable to unit holders | $26,201,012 | $21,893,319 | ||
Units on issue | 22,778,334 | 22,778,334 | ||
Net tangible assets attributable to unit holders per unit | $1.15 | $0.96 |
For personal use only
Fat Prophets Global Property Fund
ARSN 619 970 786
Interim report for the half-year ended 31 December 2021
Table of Contents
Directors' Report | ||
Auditor's Independence Declaration | ||
Investment Manager's Report | ||
Directors' Declaration | ||
Independent Auditor's Review Report | ||
Condensed Statement of Profit or Loss and Other Comprehensive Income for half-year ended 31 December 2021 | ||
only | ||
only | Condensed Statement of Financial Position as at 31 December 2021 | |
Condensed Statement of Changes in Equity for half-year ended 31 December 2021 | ||
Condensed Statement of Cash Flows for half-year ended 31 December 2021 | ||
use | ||
use | Notes to financials Statements | |
personalFor | 1. | Summary of Significant Accounting Policies |
2. | Adoption of New and Revised Accounting Standards | |
3. | Investments in Financial Instruments | |
4. | Net Gains/(Losses) on Financial Instruments Held at Fair Value through Profit or Loss | |
5. | Net Assets Attributable to Unitholders | |
6. | Distribution | |
7. | Segment Information | |
8. | Related Party Transactions | |
9. | Commitments and Contingencies | |
10. Subsequent Events
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Responsible Entity
The responsible entity of the Fund is OMIFL.
The registered office and principal place of business of the Responsible Entity is Level 16, Governor Macquarie Tower, 1 Farrer Place, Sydney NSW 2000.
only | Investment Manager |
The investment manager of the Fund is Fat Prophets Funds Management Pty Ltd (ACN 615 545 536) (the "Investment | |
Manager"). | |
The principal place of business of the Investment Manager is Level 3, 22 Market Street, Sydney NSW 2000. |
use | Directors and Senior Management | |
The names of the directors and company secretaries of the Responsible Entity, during the financial half-year and up to the | ||
date of this report are: | ||
Name | Title | |
Frank Tearle | Executive Director & Company Secretary | |
Sarah Wiesener | Executive Director & Company Secretary | |
Michael Sutherland | Executive Director | |
personal | ||
personal For |
Principal Activities
The Fund is a registered managed investments scheme domiciled and registered in Australia and listed on the Australian Securities Exchange ("ASX"). The Fund was constituted on 23 June 2017 and commenced operations on 10 October 2017.
The principal activity of the Fund during the period was to invest in accordance with the provisions of the Fund's constitution and the Product Disclosure Statement dated 11 July 2017 as varied by the supplementary PDSs dated 28 July 2017 and 21 September 2017 (together, the "PDS").
The Fund invests primarily in a diversified but high conviction portfolio of global real estate securities. The Fund only invests in equities in developed markets and the Fund does not use leverage, shorting or derivatives and as such is simple in structure, targeting capital growth and distributions. The fund does not hedge its foreign exchange exposure.
The Fund did not have any employees during the period.
Review of Operations
Results
The results of the operations of the Fund are disclosed in the Condensed Statement of Profit or Loss and Other Comprehensive Income included in these financial statements. The net gain attributable to unitholders for the period ended 31 December 2021 was $2,092,239 (31 December 2020: gain $2,409,006).
Fat Prophets Global Property Fund
Directors' Report (continued)
Value of Assets and Units Issued
The following units of the Fund were on issue as at 31 December 2021:
only | As at 31 December 2021 | As at 30 June 2021 | ||||
No. of Units | Fair value ($) | No. of Units | Fair value ($) | |||
22,778,334 | 26,201,012 | 22,778,334 | 24,792,123 | |||
Total | 22,778,334 | 26,201,012 | 22,778,334 | 24,792,123 | ||
Significant Changes in State of Affairs | ||||||
There were no significant changes in the state of affairs of the Fund. | ||||||
Subsequent Events | ||||||
The fund has announced a 1 for 10 buy back of the units on issue on 31st December 2021 and was able to commence 2 weeks | ||||||
after that date on 14th January 2022. The RE will announce daily the number of units bought back. | ||||||
useNo other matters or circumstance occurring subsequent to the end of the period that has significantly affected, or may | ||||||
use | significantly affect, the operations of the Fund, the results of those operations, or the state of affairs of the Fund in future | |||||
financial years. | ||||||
personal | Likely Developments | |||||
The Fund will be managed in accordance with the Constitution and investment objectives as detailed in the PDS and any public | ||||||
announcements made in respect of the Fund during the interim reporting period. | ||||||
COVID-19 | ||||||
The coronavirus, COVID-19, was first identified as a new, highly contagious virus in December 2019. The World Health | ||||||
Organisation declared a global pandemic in March 2020 and as at 31 December 2021, COVID-19 remains prevalent throughout | ||||||
the world, including Australia. COVID-19 has caused unprecedented disruption to populations, businesses and general | ||||||
economic activity. As the situation evolves, it continues to have significant impacts on investment funds and their trustees and | ||||||
managers, both directly and indirectly. | ||||||
As this situation is continuing, the Investment Manager has been monitoring both the valuation of the Fund's assets and the | ||||||
Fund's liquidity and is in close contact with service providers in assessing the ongoing operations, liquidity and the basis of the | ||||||
values and estimates reported. In these circumstances, there is uncertainty around valuations. The Investment Manager will | ||||||
continue to closely monitor market situations to ensure that valuations remain appropriate. The Investment Managerwill | ||||||
provide resources and updates where necessary to provide informed guidance for investors during this rapidly changing | ||||||
environment. | ||||||
Environmental Regulation and Performance | ||||||
The operations of the Fund are not subject to any particular or significant environmental regulation under a law of the | ||||||
Commonwealth or of a State or Territory. There have been no known significant breaches of any other environmental | ||||||
Forrequirements applicable to the Fund. | ||||||
For |
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Fat Prophets Global Property Fund published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 05:41:03 UTC.